Alexander’s (NYSE:ALX) Sees Unusually-High Trading Volume – What’s Next?

Alexander’s, Inc. (NYSE:ALX) saw strong trading volume on Tuesday . 44,598 shares were traded during mid-day trading, an increase of 4% from the previous session’s volume of 42,774 shares.The stock last traded at $213.07 and had previously closed at $211.93.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ALX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Alexander’s in a report on Wednesday, October 8th. Zacks Research upgraded shares of Alexander’s from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy”.

Alexander’s Price Performance

The company has a current ratio of 9.78, a quick ratio of 9.78 and a debt-to-equity ratio of 6.79. The stock has a market cap of $1.09 billion, a PE ratio of 29.23 and a beta of 0.86. The company’s 50 day moving average is $227.12 and its 200-day moving average is $229.69.

Alexander’s (NYSE:ALX) last announced its earnings results on Monday, November 3rd. The real estate investment trust reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.41. Alexander’s had a return on equity of 22.12% and a net margin of 17.14%.The company had revenue of $53.42 million during the quarter, compared to the consensus estimate of $51.60 million. As a group, sell-side analysts predict that Alexander’s, Inc. will post 11.5 earnings per share for the current year.

Alexander’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Monday, November 10th were issued a dividend of $4.50 per share. The ex-dividend date was Monday, November 10th. This represents a $18.00 annualized dividend and a yield of 8.5%. Alexander’s’s payout ratio is currently 252.10%.

Hedge Funds Weigh In On Alexander’s

Institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC increased its stake in shares of Alexander’s by 25.4% in the third quarter. Advisory Services Network LLC now owns 1,670 shares of the real estate investment trust’s stock worth $392,000 after buying an additional 338 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Alexander’s during the 3rd quarter valued at $864,000. Dark Forest Capital Management LP acquired a new position in Alexander’s during the 3rd quarter worth $1,463,000. Verition Fund Management LLC acquired a new position in Alexander’s during the 3rd quarter worth $225,000. Finally, Mariner LLC increased its position in shares of Alexander’s by 5.0% in the 3rd quarter. Mariner LLC now owns 6,663 shares of the real estate investment trust’s stock worth $1,562,000 after purchasing an additional 317 shares during the last quarter. 31.99% of the stock is currently owned by hedge funds and other institutional investors.

Alexander’s Company Profile

Alexander’s, Inc (NYSE: ALX) is a real estate investment trust (REIT), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to we, us, our, Company and Alexander’s refer to Alexander’s, Inc and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (Vornado) (NYSE: VNO).